Japan Indexes Rebounded After Two Days of Losses; Yamaha Corp. and NH Foods Dropped 10%

Tokyo market indexes advanced after investors returned from a three-day holiday.

The Nikkei 225 stock average gained 1% and the Topix index advanced 0.8% after investors reacted to the rebound in tech stocks in overnight trading in New York. 

Last week, market indexes extended losses to the third week in a row amid growing policy uncertainty and political instability. 

Investors are looking forward to the possible formation of an alliance between LDP-Komeito and the Democratic Party for the People, ending political instability for now.

Moreover, mixed corporate results dampened market sentiment as investors grappled with elevated tensions in the Middle East. 

Market enthusiasm was muted ahead of the U.S. presidential and congressional election on Wednesday, which could determine the direction of future government spending, support for the war in Ukraine, and military activities in Asia. 

The U.S. Federal Reserve is set to announce its rate decisions on Thursday, and investors are divided about the possible rate cut of 25 basis points following the supersize 50-basis-point cut in September. 

Japan Stock Movers 

The Nikkei 225 Stock Average increased 1.1% to 38,474.90, and the broader Topix index advanced 0.8% to 2,664.26. 

Tokyo Electron gained 1.9% to ¥22,930.0, Advantest increased 1.7% to ¥8,899.0, and Disco Corp. advanced 4.4% to ¥44,540.0. 

Yamaha Corp. declined 13.2% to ¥1,081.0 after the musical instrument company reported interim results. 

Revenue in the first-half ending in September increased 3.9% to 228.1 billion yen, net income plunged 64.6% to 5.3 billion yen, and earnings per share dropped to 10.67 from 29.44 a year ago. 

The company declared an interim dividend of 37 yen per share, reflecting a 3-for-1 stock split on October 1. 

NH Foods declined 9.7% to ¥4,754.0 after the food processing company reported its interim financial results. 

Revenue in the first half ending in September increased 4.9% to 683.8 billion yen, net profit declined 9.8% to 19.7 billion yen, and earnings per share eased to 174.19 yen from 194.88 yen a year ago.

The company estimated year-end dividend of 135 yen, an increase from 119 yen in the previous year. 

Japan Indexes Rebounded After Two Days of Losses; Yamaha Corp. and NH Foods Dropped 10%

Tokyo market indexes advanced after investors returned from a three-day holiday.

The Nikkei 225 stock average gained 1% and the Topix index advanced 0.8% after investors reacted to the rebound in tech stocks in overnight trading in New York. 

Last week, market indexes extended losses to the third week in a row amid growing policy uncertainty and political instability. 

Investors are looking forward to the possible formation of an alliance between LDP-Komeito and the Democratic Party for the People, ending political instability for now.

Moreover, mixed corporate results dampened market sentiment as investors grappled with elevated tensions in the Middle East. 

Market enthusiasm was muted ahead of the U.S. presidential and congressional election on Wednesday, which could determine the direction of future government spending, support for the war in Ukraine, and military activities in Asia. 

The U.S. Federal Reserve is set to announce its rate decisions on Thursday, and investors are divided about the possible rate cut of 25 basis points following the supersize 50-basis-point cut in September. 

Japan Stock Movers 

The Nikkei 225 Stock Average increased 1.1% to 38,474.90, and the broader Topix index advanced 0.8% to 2,664.26. 

Tokyo Electron gained 1.9% to ¥22,930.0, Advantest increased 1.7% to ¥8,899.0, and Disco Corp. advanced 4.4% to ¥44,540.0. 

Yamaha Corp. declined 13.2% to ¥1,081.0 after the musical instrument company reported interim results. 

Revenue in the first-half ending in September increased 3.9% to 228.1 billion yen, net income plunged 64.6% to 5.3 billion yen, and earnings per share dropped to 10.67 from 29.44 a year ago. 

The company declared an interim dividend of 37 yen per share, reflecting a 3-for-1 stock split on October 1. 

NH Foods declined 9.7% to ¥4,754.0 after the food processing company reported its interim financial results. 

Revenue in the first half ending in September increased 4.9% to 683.8 billion yen, net profit declined 9.8% to 19.7 billion yen, and earnings per share eased to 174.19 yen from 194.88 yen a year ago.

The company estimated year-end dividend of 135 yen, an increase from 119 yen in the previous year. 

China and Hong Kong Indexes Advanced Second Consecutive Day, Yum China Earnings Beats Expectations

China and Hong Kong stocks advanced following a private measure of the service sector showing rising activities. 

The Hang Seng index and the mainland-focused CSI 300 index increased 1.5% in the hopes that the world's second-largest economy will continue open markets to attract foreign investments. 

The Caixin China General Services PMI increased to 52.0 in October from 50.3 in the previous month and advanced at the fastest pace in three months following a series of supportive measures from the People's Bank of China and the finance ministry. 

The latest service data added to last week's positive signals from the manufacturing and construction sectors, indicating that the stimulus measures are helping the economy for now. 

Premier Li Qiang said China is ready to open local markets to foreign investors and urged local government officials to remove internal barriers to create a larger national market. 

Premier Qiang was speaking to a group of Chinese officials and business leaders at the start of the China International Import Expo in Shanghai on Tuesday. 

Despite the warm welcome offered to foreign investors, many long-time investors in China are leaving and setting up new operations in Vietnam, Mexico, India, and Malaysia. 

Investors are leaving China because of Beijing's arbitary enforcement of law, slowing economic growth, persistent stealing of intellectual property, and rising tensions with the West. 

China Stock Movers 

The Hang Seng index increased 1.5% to 20,855.24, and the mainland-focused CSI 300 index jumped 2.4% to 4,038.10. 

Yum China increased 5.5% to HK $380.20 after the operator of a chain of fast food stores reported higher-than-expected earnings. 

Property stocks rebounded for the second day in a row in the hopes that the Standing Committee of the People's National Congress is likely to provide strong measures to revive the property markets at the end of the meeting on Friday. 

China Vanke increased 2.6% to HK $7.47, China Resources Land gained 1.7% to HK $27.0, and Longfor Group Holdings advanced 1.9% to HK $13.36. 

Nongfu Spring soared 7.4% to HK $13.36, and SMIC advanced 4.2% to HK $26.95. China and Hong Kong stocks advanced following a private measure of the service sector showing rising activities. 

The Hang Seng index and the mainland-focused CSI 300 index increased 1.5% in the hopes that the world's second-largest economy will continue open markets to attract foreign investments. 

The Caixin China General Services PMI increased to 52.0 in October from 50.3 in the previous month and advanced at the fastest pace in three months following a series of supportive measures from the People's Bank of China and the finance ministry. 

The latest service data added to last week's positive signals from the manufacturing and construction sectors, indicating that the stimulus measures are helping the economy for now. 

Premier Li Qiang said China is ready to open local markets to foreign investors and urged local government officials to remove internal barriers to create a larger national market. 

Premier Qiang was speaking to a group of Chinese officials and business leaders at the start of the China International Import Expo in Shanghai on Tuesday. 

Despite the warm welcome offered to foreign investors, many long-time investors in China are leaving and setting up new operations in Vietnam, Mexico, India, and Malaysia. 

Investors are leaving China because of Beijing's arbitary enforcement of law, slowing economic growth, persistent stealing of intellectual property, and rising tensions with the West. 

China Stock Movers 

The Hang Seng index increased 1.5% to 20,855.24, and the mainland-focused CSI 300 index jumped 2.4% to 4,038.10. 

Yum China increased 5.5% to HK $380.20 after the operator of a chain of fast food stores reported higher-than-expected earnings. 

Property stocks rebounded for the second day in a row in the hopes that the Standing Committee of the People's National Congress is likely to provide strong measures to revive the property markets at the end of the meeting on Friday. 

China Vanke increased 2.6% to HK $7.47, China Resources Land gained 1.7% to HK $27.0, and Longfor Group Holdings advanced 1.9% to HK $13.36. 

Nongfu Spring soared 7.4% to HK $13.36, and SMIC advanced 4.2% to HK $26.95. 

China and Hong Kong Indexes Advanced Second Consecutive Day, Yum China Earnings Beats Expectations

China and Hong Kong stocks advanced following a private measure of the service sector showing rising activities. 

The Hang Seng index and the mainland-focused CSI 300 index increased 1.5% in the hopes that the world's second-largest economy will continue open markets to attract foreign investments. 

The Caixin China General Services PMI increased to 52.0 in October from 50.3 in the previous month and advanced at the fastest pace in three months following a series of supportive measures from the People's Bank of China and the finance ministry. 

The latest service data added to last week's positive signals from the manufacturing and construction sectors, indicating that the stimulus measures are helping the economy for now. 

Premier Li Qiang said China is ready to open local markets to foreign investors and urged local government officials to remove internal barriers to create a larger national market. 

Premier Qiang was speaking to a group of Chinese officials and business leaders at the start of the China International Import Expo in Shanghai on Tuesday. 

Despite the warm welcome offered to foreign investors, many long-time investors in China are leaving and setting up new operations in Vietnam, Mexico, India, and Malaysia. 

Investors are leaving China because of Beijing's arbitary enforcement of law, slowing economic growth, persistent stealing of intellectual property, and rising tensions with the West. 

China Stock Movers 

The Hang Seng index increased 1.5% to 20,855.24, and the mainland-focused CSI 300 index jumped 2.4% to 4,038.10. 

Yum China increased 5.5% to HK $380.20 after the operator of a chain of fast food stores reported higher-than-expected earnings. 

Property stocks rebounded for the second day in a row in the hopes that the Standing Committee of the People's National Congress is likely to provide strong measures to revive the property markets at the end of the meeting on Friday. 

China Vanke increased 2.6% to HK $7.47, China Resources Land gained 1.7% to HK $27.0, and Longfor Group Holdings advanced 1.9% to HK $13.36. 

Nongfu Spring soared 7.4% to HK $13.36, and SMIC advanced 4.2% to HK $26.95. China and Hong Kong stocks advanced following a private measure of the service sector showing rising activities. 

The Hang Seng index and the mainland-focused CSI 300 index increased 1.5% in the hopes that the world's second-largest economy will continue open markets to attract foreign investments. 

The Caixin China General Services PMI increased to 52.0 in October from 50.3 in the previous month and advanced at the fastest pace in three months following a series of supportive measures from the People's Bank of China and the finance ministry. 

The latest service data added to last week's positive signals from the manufacturing and construction sectors, indicating that the stimulus measures are helping the economy for now. 

Premier Li Qiang said China is ready to open local markets to foreign investors and urged local government officials to remove internal barriers to create a larger national market. 

Premier Qiang was speaking to a group of Chinese officials and business leaders at the start of the China International Import Expo in Shanghai on Tuesday. 

Despite the warm welcome offered to foreign investors, many long-time investors in China are leaving and setting up new operations in Vietnam, Mexico, India, and Malaysia. 

Investors are leaving China because of Beijing's arbitary enforcement of law, slowing economic growth, persistent stealing of intellectual property, and rising tensions with the West. 

China Stock Movers 

The Hang Seng index increased 1.5% to 20,855.24, and the mainland-focused CSI 300 index jumped 2.4% to 4,038.10. 

Yum China increased 5.5% to HK $380.20 after the operator of a chain of fast food stores reported higher-than-expected earnings. 

Property stocks rebounded for the second day in a row in the hopes that the Standing Committee of the People's National Congress is likely to provide strong measures to revive the property markets at the end of the meeting on Friday. 

China Vanke increased 2.6% to HK $7.47, China Resources Land gained 1.7% to HK $27.0, and Longfor Group Holdings advanced 1.9% to HK $13.36. 

Nongfu Spring soared 7.4% to HK $13.36, and SMIC advanced 4.2% to HK $26.95. 

India Movers: ABB India, Bata, Bharti Airtel, NSE, REC Limited, Raymond

Stocks in Mumbai looked down as investors reviewed the latest batch of weak corporate earnings. 

Persistent outflows of foreign funds dented market sentiment for the third week in a row. 

The Sensex index decreased by 0.1% to 78,675.15, and the Nifty index fell by 0.1% to 23,973.35. 

On the Mumbai stock exchange, 92 stocks traded at their 52-week highs, and 15 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched higher to 6.83%, and the Indian rupee eased to 84.12 against the U.S. dollar.

REC Limited decreased 1% to ₹512.95, and the power company plans to raise 6,500 crore through the sale of bonds in two tranches between November 6 and 8. 

The rural electrification plans to raise ₹3,000 crore through the sale of 15-year bonds and 3,500 crore through the sale of ₹3,500 crore. 

Bharti Airtel declined 0.2% to ₹1,588.15 after the company raised 11,150 crore through the sale of bonds with coupon rates ranging between 8.25% and 8.90%. 

ABB India declined 4.5% to ₹7,029.30, and the company reported a sharp jump in earnings in the September quarter. 

Revenue from operations increased 5% to ₹2,912 crore and net income surged 22% to ₹440 crore from a year ago, respectively. 

New orders in the quarter increased 11% from the previous quarter to ₹3,342 crore, and total order backlog advanced 25% from a year ago to ₹9,995 crore. 

National Stock Exchange reported consolidated revenue in the September quarter increased 25% to ₹5,023 crore and net income soared 57% to ₹3,137 crore. 

The average daily trading volume increased 66% from a year ago to ₹1.29 lakh crore, the equity futures segment jumped to ₹2.01 lakh crore, and equity options increased to ₹65,648 crore. 

Raymond Ltd. increased 1.5% to ₹1,711.15 after the company announced its September quarterly results. 

Total income in the fiscal second quarter soared to ₹1,100.70 crore from ₹510 crore, but net income declined 63% to ₹59.01 crore from ₹161.16 crore a year ago. 

Bata India declined 1.4% to ₹1,318.55 after the footwear retailer reported a sharp jump in earnings in the September quarter.

Consolidated revenue increased 2.2% to ₹837.1 crore and net income advanced 53% to ₹52 crore from ₹34 crore a year ago, respectively.

India Movers: ABB India, Bata, Bharti Airtel, NSE, REC Limited, Raymond

Stocks in Mumbai looked down as investors reviewed the latest batch of weak corporate earnings. 

Persistent outflows of foreign funds dented market sentiment for the third week in a row. 

The Sensex index decreased by 0.1% to 78,675.15, and the Nifty index fell by 0.1% to 23,973.35. 

On the Mumbai stock exchange, 92 stocks traded at their 52-week highs, and 15 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched higher to 6.83%, and the Indian rupee eased to 84.12 against the U.S. dollar.

REC Limited decreased 1% to ₹512.95, and the power company plans to raise 6,500 crore through the sale of bonds in two tranches between November 6 and 8. 

The rural electrification plans to raise ₹3,000 crore through the sale of 15-year bonds and 3,500 crore through the sale of ₹3,500 crore. 

Bharti Airtel declined 0.2% to ₹1,588.15 after the company raised 11,150 crore through the sale of bonds with coupon rates ranging between 8.25% and 8.90%. 

ABB India declined 4.5% to ₹7,029.30, and the company reported a sharp jump in earnings in the September quarter. 

Revenue from operations increased 5% to ₹2,912 crore and net income surged 22% to ₹440 crore from a year ago, respectively. 

New orders in the quarter increased 11% from the previous quarter to ₹3,342 crore, and total order backlog advanced 25% from a year ago to ₹9,995 crore. 

National Stock Exchange reported consolidated revenue in the September quarter increased 25% to ₹5,023 crore and net income soared 57% to ₹3,137 crore. 

The average daily trading volume increased 66% from a year ago to ₹1.29 lakh crore, the equity futures segment jumped to ₹2.01 lakh crore, and equity options increased to ₹65,648 crore. 

Raymond Ltd. increased 1.5% to ₹1,711.15 after the company announced its September quarterly results. 

Total income in the fiscal second quarter soared to ₹1,100.70 crore from ₹510 crore, but net income declined 63% to ₹59.01 crore from ₹161.16 crore a year ago. 

Bata India declined 1.4% to ₹1,318.55 after the footwear retailer reported a sharp jump in earnings in the September quarter.

Consolidated revenue increased 2.2% to ₹837.1 crore and net income advanced 53% to ₹52 crore from ₹34 crore a year ago, respectively.

World Markets In Holding Pattern as Rate Decisions Loom In the U.S. and Europe

Market indexes on Wall Street lacked direction in tight trading as investors prepared to review the outcome of the U.S. presidential and Congressional elections.

The U.S. presidential election could impact stock trading around the world this week, but political leaders in Asia brace for higher trade barriers regardless of which party wins control. 

In addition, the U.S. Federal Reserve is set to announce its monetary policy decision, and investors are divided about the possible rate cut of 25 basis points or no change in rate.

On the earnings front, at least 500 companies are scheduled to release their quarterly results, including Toyota Motor, Ferrari, AIG, CVS, Qualcomm, and Marriott.

Last week, world stock market indexes declined in unison as investors faced a deluge of corporate earnings, a flood of economic data, and political outcomes.

World market indexes fell between 1% and 2% as investors turned cautious ahead of the U.S. presidential election on Tuesday, and in political upheaval, Japan’s ruling coalition lost its majority in the parliamentary elections.

Moreover, investors are closely monitoring which party wins control of the U.S. House of Representatives and the U.S. Senate, which could determine future tax system overhaul and trajectory of government spending. 

U.S. Indexes and Treasury Yields

The S&P 500 index decreased 0.1% to 5,722.25, the Nasdaq Composite fell 0.01% to 18,244.20, and the Russell 2000 index rose 0.7% to 2,226.29. 

The yield on 2-year Treasury notes edged higher to 4.16%, 10-year Treasury notes inched higher to 4.29%, and 30-year Treasury bonds increased to 4.49%.

WTI crude oil increased $1.91 to $71.40 a barrel, and natural gas prices edged down 2 cents to $2.64 a thermal unit.

Gold increased by $8.58 to $2,744.84 an ounce, and silver increased by $0.27 to $32.70.

The dollar index, which weighs the US currency against a basket of foreign currencies, edged lower to 103.74.

U.S. Stock Movers

Marriott International declined 2% to $255.30 after the hotel chain operator reported its quarterly results.

Revenue increased 6% to $6.3 billion from $5.9 billion, net income plunged 22% to $584 million from $752 million, and diluted earnings per share fell 18% to $2.02 from $2.51 a year ago. 

The company added a net 16,000 rooms in the quarter and indicated about 3,800 properties with 585,000 rooms were in the development stage around the world. 

The company also confirmed it acquired 4.5 million shares of common stock for $1.0 billion in the third quarter. 

Berkshire Hathaway Inc. Class B declined 0.3% to $451.0 after the diversified conglomerate reported its quarterly results. 

Total revenue in the third quarter declined to $92.99 billion from $93.21 billion, net earnings attributable to shareholders swung to a profit of $26.2 billion from a loss of $12.7 billion, and diluted earnings per Class B share were $12.18 from a loss of $5.88 a year earlier. 

The company's operating earnings from fully-owned businesses declined 6% to $10.1 billion, reflecting a weakness in its underwriting business. 

Investment in equity securities declined to $271.6 billion from $353.8 billion, and cash and equivalent rose to $325.2 billion from $276.9 billion a year ago. 

European Markets Flatlined In Busy of Week of Rate Decisions 

European market indexes lacked direction in a busy week of earnings and economic releases. 

Benchmark indexes in Paris, London, Milan, and Frankfurt traded in a tight range as investors prepare to review quarterly updates from leading corporations. 

The Bank of England is expected to lower its key lending rate by 25 basis points, reflecting weakening inflationary pressures. 

The central banks of Norway and Sweden are set to release their rate decisions this week, and traders are expecting both central banks to hold rates steady. 

Germany is scheduled to release its international trade data, and the country's trade deficit is likely to expand from the previous month. 

The U.S. Federal Reserve is also expected to lower its key interest rates by 25 basis points following a supersize 50 basis point cut in September. 

The Standing Committee of the People's National Congress in China kicked off its weeklong meeting that will decide the debt level increase and pave the way for additional fiscal stimulus measures. 

The meeting is closely watched by investors, as lawmakers are likely to approve additional spending between 2 trillion and 4 trillion yuan, or between €250 billion and €490 billion. 

Manufacturing Activities Diverged In Spain and Italy

Closer to home, a private survey showed Spain's factory activities expanded at the fastest pace in October since February 2022, driven by improving new orders and rising production. 

The HCOB Spain Manufacturing PMI increased 54.5 from 53.0 in September, S&P Global reported Monday. 

Italy's factory activities continued to contract for the seventh consecutive month in a row in October amid deteriorating demand from the U.S., Middle East, and other Eurozone members. 

The HCOB Italy Manufacturing PMI slowed to 46.9 from 48.3 in the previous month, S&P Global said in a separate report. 

Europe Indexes and Yields

The DAX index decreased by 0.6% to 19,147.85; the CAC-40 index rose by 0.5% to 7,371.71; and the FTSE 100 index rose by 0.1% to 8,184.24. 

The yield on 10-year German bonds edged higher to 2.41%, French bonds inched higher to 3.15%, the UK gilts edged higher to 4.46%, and Italian bonds decreased to 3.66%.

The euro edged higher to $1.09; the British pound inched higher to $1.29; and the U.S. dollar weakened to 86.32 Swiss cents.

Brent crude increased $2.01 to $75.11 a barrel, and the Dutch TTF natural gas rose by €1.56 to €40.50 per MWh. 

Europe Stock Movers

Energy stocks rebounded after crude oil prices advanced following the OPEC+'s decision to delay an increase in output by a month. 

Shell PLC gained 1.2% to 2,610.50 pence, BP plc rose 1.5% to 384.0 pence, and TotalEnergies SE increased 0.8% to €58.36. 

Eni SpA increased 0.7% to €14.13 after the Italian energy company completed the sale of two upstream offshore assets. 

Burberry Group increased 6% to 860.51 pence on speculation that Italy-based Moncler could be preparing for a bid for the luxury fashion product maker. 

Skanska AB advanced 1% to SEK 219.80 after the Swedish construction company signed a contract to build office buildings in London's West End. 

Mining companies advanced following a rebound in commodities prices as China's top legislators commenced a weeklong meeting to finalize the amount of additional fiscal measures. 

Anglo American increased 1.4% to 2,428.50 pence, Antofagasta advanced 0.8% to 1,777.81 pence, and Glencore added 0.8% to 410.83 pence. 

China Indexes Edged Higher as Lawmakers Debate Fiscal Deficit Measures 

Stocks in China and Hong Kong advanced as investors shifted their focus to the key meeting of lawmakers that could pave the way for fiscal stimulus.

The Hang Seng index gained 0.3% and the mainland-focus CSI 300 index advanced 1.4% as the weeklong Standing Committee of the People's National Congress started.

The critical meeting of lawmakers is expected to approve the lifting of the debt ceiling limit and the sale of long-term bonds to finance fiscal measures supporting the property markets. 

Investors are anticipating that the previously pledged fiscal measures by the top political leaders and finance ministry over the last five weeks will soon be enacted. 

The legislative meeting this week is likely to provide more clarity about the amount and timing of fiscal measures and details of the plan to revive the moribund property market. 

Market participants have built up expectations of fiscal measures totaling between 2 trillion yen and 4 trillion yen and supportive financial measures for local governments to revive local residential projects in second- and third-tier cities. 

On the economic front, investors are looking forward to the release of international trade data and the survey of non-manufacturing industries. 

China Stock Movers 

The Hang Seng index increased 0.3% to 20,574.16, and the CSI 300 index rose 1.4% to 3,944.76. 

Property stocks edged lower and erased some of Friday's gains following the lukewarm new home sales over the weekend. 

China Vanke declined 1.6% to HK $7.29, China Resource Land decreased 0.4% to HK $26.65, and Sun Hung Kai Properties eased 0.1% to HK $85.10. 

Electric vehicle makers traded higher after October vehicle sales were ahead of market expectations. 

Steep discounts and government subsidies supported the sale of electric vehicles, and the advanced vehicle sales surpassed petrol car sales for the third month in a row in October. 

Electric vehicle sales increased to 1.12 million units in October, with a market share of 53.3%, according to CPCA, or China Passenger Car Association. 

BYD increased 3.4% to HK $287.20 after the company's vehicle sales soared 66% from a year ago to 502,757 units. 

The company reported a fifth consecutive monthly record sales of electric and hybrid vehicles, largely because of the subsidies to replace older petrol cars. 

Li Auto increased 1.5% to HK $98.55 after the company said electric vehicle sales dropped 1% from the previous month to 51,443 units. 

NIO decreased 0.3% to HK $5.23 after the company said sales fell 1% from the previous month to 20,976 units. 

Berkshire Hathaway Inc. Class B declined 0.3% to $451.0 after the diversified conglomerate reported its quarterly results. 

Total revenue in the third quarter declined to $92.99 billion from $93.21 billion, net earnings attributable to shareholders swung to a profit of $26.2 billion from a loss of $12.7 billion, and diluted earnings per Class B share were $12.18 from a loss of $5.88 a year earlier. 

The company's operating earnings from fully-owned businesses declined 6% to $10.1 billion, reflecting a weakness in its underwriting business. 

Investment in equity securities declined to $271.6 billion from $353.8 billion, and cash and equivalent rose to $325.2 billion from $276.9 billion a year ago. 

Marriott International declined 2% to $255.30 after the hotel chain operator reported its quarterly results.

Revenue increased 6% to $6.3 billion from $5.9 billion, net income plunged 22% to $584 million from $752 million, and diluted earnings per share fell 18% to $2.02 from $2.51 a year ago. 

The company added a net of 16,000 rooms in the quarter and indicated about 3,800 properties with 585,000 rooms were in the development stage around the world. 

The company also confirmed it acquired 4.5 million shares of common stock for $1.0 billion in the third quarter. 

U.S. Movers: Berkshire Hathaway, Marriott, Nvidia, Sherwin Williams

Marriott International declined 2% to $255.30 after the hotel chain operator reported its quarterly results.

Revenue increased 6% to $6.3 billion from $5.9 billion, net income plunged 22% to $584 million from $752 million, and diluted earnings per share fell 18% to $2.02 from $2.51 a year ago. 

The company added a net of 16,000 rooms in the quarter and indicated about 3,800 properties with 585,000 rooms were in the development stage around the world. 

The company also confirmed it acquired 4.5 million shares of common stock for $1.0 billion in the third quarter. 

Berkshire Hathaway Inc. Class B declined 0.3% to $451.0 after the diversified conglomerate reported its quarterly results. 

Total revenue in the third quarter declined to $92.99 billion from $93.21 billion, net earnings attributable to shareholders swung to a profit of $26.2 billion from a loss of $12.7 billion, and diluted earnings per Class B share were $12.18 from a loss of $5.88 a year earlier. 

The company's operating earnings from fully-owned businesses declined 6% to $10.1 billion, reflecting a weakness in its underwriting business. 

Investment in equity securities declined to $271.6 billion from $353.8 billion, and cash and equivalent rose to $325.2 billion from $276.9 billion a year ago. 

Nvidia Corp. jumped 1.7% to $137.65 and Sherwin Williams jumped 5% to $376.32 after the two companies were selected to be included in the Dow Jones Industrial Average, effective November 8. 

Nvidia will replace Intel, and Sherwin Williams will replace Dow Inc. 

Intel has lost about 53% of its value as of Friday's close in 2024, and Dow Inc. has declined 13% in the corresponding period. 

Wall Street Indexes Trade Sideways Ahead of U.S. Elections and Rate Decisions

Stock market indexes advanced in early trading on Monday as investors prepared for a busy week of earnings and awaited the outcome of the U.S. presidential election and other chambers of legislation. 

The U.S. presidential election could impact stock trading around the world this week, but political leaders in Asia brace for higher trade barriers regardless of which party wins control. 

In addition, the U.S. Federal Reserve is set to announce its monetary policy decision, and investors are divided about the possible rate cut of 25 basis points or no change in rate.

On the earnings front, at least 500 companies are scheduled to release their quarterly results, including Toyota Motor, Ferrari, AIG, CVS, Qualcomm, and Marriott.

Last week, world stock market indexes declined in unison as investors faced a deluge of corporate earnings, a flood of economic data, and political outcomes.

World market indexes fell between 1% and 2% as investors turned cautious ahead of the U.S. presidential election on Tuesday, and in political upheaval, Japan’s ruling coalition lost its majority in the parliamentary elections.

Moreover, investors are closely monitoring which party wins control of the U.S. House of Representatives and the U.S. Senate, which could determine future tax system overhaul and trajectory of government spending. 

U.S. Indexes and Treasury Yields

The S&P 500 index decreased 0.3% to 5,711.49, the Nasdaq Composite fell 0.6% to 18,127.60, and the Russell 2000 index rose 0.6% to 2,210.13. 

The yield on 2-year Treasury notes edged higher to 4.16%, 10-year Treasury notes inched higher to 4.29%, and 30-year Treasury bonds increased to 4.49%.

WTI crude oil increased $1.91 to $71.40 a barrel, and natural gas prices edged down 2 cents to $2.64 a thermal unit.

Gold increased by $8.58 to $2,744.84 an ounce, and silver increased by $0.27 to $32.70.

The dollar index, which weighs the US currency against a basket of foreign currencies, edged lower to 103.74.

U.S. Stock Movers

Marriott International declined 2% to $255.30 after the hotel chain operator reported its quarterly results.

Revenue increased 6% to $6.3 billion from $5.9 billion, net income plunged 22% to $584 million from $752 million, and diluted earnings per share fell 18% to $2.02 from $2.51 a year ago. 

The company added a net 16,000 rooms in the quarter and indicated about 3,800 properties with 585,000 rooms were in the development stage around the world. 

The company also confirmed it acquired 4.5 million shares of common stock for $1.0 billion in the third quarter. 

Berkshire Hathaway Inc. Class B declined 0.3% to $451.0 after the diversified conglomerate reported its quarterly results. 

Total revenue in the third quarter declined to $92.99 billion from $93.21 billion, net earnings attributable to shareholders swung to a profit of $26.2 billion from a loss of $12.7 billion, and diluted earnings per Class B share were $12.18 from a loss of $5.88 a year earlier. 

The company's operating earnings from fully-owned businesses declined 6% to $10.1 billion, reflecting a weakness in its underwriting business. 

Investment in equity securities declined to $271.6 billion from $353.8 billion, and cash and equivalent rose to $325.2 billion from $276.9 billion a year ago. 

Europe Movers: Burberry, Energy Stocks, Eni, Luxury Stocks, Skanska

European markets lacked direction ahead of a busy week of earnings and economic releases. 

Manufacturing activities in Spain expanded at the fastest pace over two years, and in Italy they contracted for the seventh consecutive month. 

The DAX index increased by 0.1% to 19,267.85; the CAC-40 index rose by 0.3% to 7,430.84; and the FTSE 100 index rose by 0.7% to 8,235.38. 

The yield on 10-year German bonds edged higher to 2.41%, French bonds inched higher to 3.15%, the UK gilts edged higher to 4.46%, and Italian bonds decreased to 3.66%.

Energy stocks rebounded after crude oil prices advanced following the OPEC+'s decision to delay an increase in output by a month. 

Shell PLC gained 1.2% to 2,610.50 pence, BP plc rose 1.5% to 384.0 pence, and TotalEnergies SE increased 0.8% to €58.36. 

Eni SpA increased 0.7% to €14.13 after the Italian energy company completed the sale of two upstream offshore assets. 

Burberry Group increased 6% to 860.51 pence on speculation that Italy-based Moncler could be preparing for a bid for the luxury fashion product maker. 

Skanska AB advanced 1% to SEK 219.80 after the Swedish construction company signed a contract to build office buildings in London's West End. 

Mining companies advanced following a rebound in commodities prices as China's top legislators commenced a weeklong meeting to finalize the amount of additional fiscal measures. 

Anglo American increased 1.4% to 2,428.50 pence, Antofagasta advanced 0.8% to 1,777.81 pence, and Glencore added 0.8% to 410.83 pence. 

European Markets Flatlined In Busy of Week of Rate Decisions, Manufacturing Activities Diverged In Spain and Italy

European market indexes lacked direction in a busy week of earnings and economic releases. 

Benchmark indexes in Paris, London, Milan, and Frankfurt traded in a tight range as investors prepare to review quarterly updates from leading corporations. 

The Bank of England is expected to lower its key lending rate by 25 basis points, reflecting weakening inflationary pressures. 

The central banks of Norway and Sweden are set to release their rate decisions this week, and traders are expecting both central banks to hold rates steady. 

Germany is scheduled to release its international trade data, and the country's trade deficit is likely to expand from the previous month. 

The U.S. Federal Reserve is also expected to lower its key interest rates by 25 basis points following a supersize 50 basis point cut in September. 

The Standing Committee of the People's National Congress in China kicked off its weeklong meeting that will decide the debt level increase and pave the way for additional fiscal stimulus measures. 

The meeting is closely watched by investors, as lawmakers are likely to approve additional spending between 2 trillion and 4 trillion yuan, or between €250 billion and €490 billion. 

Closer to home, a private survey showed Spain's factory activities expanded at the fastest pace in October since February 2022, driven by improving new orders and rising production. 

The HCOB Spain Manufacturing PMI increased 54.5 from 53.0 in September, S&P Global reported Monday. 

Italy's factory activities continued to contract for the seventh consecutive month in a row in October amid deteriorating demand from the U.S., Middle East, and other Eurozone members. 

The HCOB Italy Manufacturing PMI slowed to 46.9 from 48.3 in the previous month, S&P Global said in a separate report. 

Europe Indexes and Yields

The DAX index increased by 0.1% to 19,267.85; the CAC-40 index rose by 0.3% to 7,430.84; and the FTSE 100 index rose by 0.7% to 8,235.38. 

The yield on 10-year German bonds edged higher to 2.41%, French bonds inched higher to 3.15%, the UK gilts edged higher to 4.46%, and Italian bonds decreased to 3.66%.

The euro edged higher to $1.09; the British pound inched higher to $1.29; and the U.S. dollar weakened to 86.32 Swiss cents.

Brent crude increased $2.20 to $75.30 a barrel, and the Dutch TTF natural gas rose by €1.27 to €40.21 per MWh. 

Europe Stock Movers

Energy stocks rebounded after crude oil prices advanced following the OPEC+'s decision to delay an increase in output by a month. 

Shell PLC gained 1.2% to 2,610.50 pence, BP plc rose 1.5% to 384.0 pence, and TotalEnergies SE increased 0.8% to €58.36. 

Eni SpA increased 0.7% to €14.13 after the Italian energy company completed the sale of two upstream offshore assets. 

Burberry Group increased 6% to 860.51 pence on speculation that Italy-based Moncler could be preparing for a bid for the luxury fashion product maker. 

Skanska AB advanced 1% to SEK 219.80 after the Swedish construction company signed a contract to build office buildings in London's West End. 

Mining companies advanced following a rebound in commodities prices as China's top legislators commenced a weeklong meeting to finalize the amount of additional fiscal measures. 

Anglo American increased 1.4% to 2,428.50 pence, Antofagasta advanced 0.8% to 1,777.81 pence, and Glencore added 0.8% to 410.83 pence. 

China Indexes Edged Higher as Lawmakers Debate Fiscal Deficit Measures

Stocks in China and Hong Kong advanced as investors shifted their focus to the key meeting of lawmakers that could pave the way for fiscal stimulus.

The Hang Seng index gained 0.3% and the mainland-focus CSI 300 index advanced 1.4% as the weeklong Standing Committee of the People's National Congress started.

The critical meeting of lawmakers is expected to approve the lifting of the debt ceiling limit and the sale of long-term bonds to finance fiscal measures supporting the property markets. 

Investors are anticipating that the previously pledged fiscal measures by the top political leaders and finance ministry over the last five weeks will soon be enacted. 

The legislative meeting this week is likely to provide more clarity about the amount and timing of fiscal measures and details of the plan to revive the moribund property market. 

Market participants have built up expectations of fiscal measures totaling between 2 trillion yen and 4 trillion yen and supportive financial measures for local governments to revive local residential projects in second- and third-tier cities. 

On the economic front, investors are looking forward to the release of international trade data and the survey of non-manufacturing industries. 

China Stock Movers 

The Hang Seng index increased 0.3% to 20,574.16, and the CSI 300 index rose 1.4% to 3,944.76. 

Property stocks edged lower and erased some of Friday's gains following the lukewarm new home sales over the weekend. 

China Vanke declined 1.6% to HK $7.29, China Resource Land decreased 0.4% to HK $26.65, and Sun Hung Kai Properties eased 0.1% to HK $85.10. 

Electric vehicle makers traded higher after October vehicle sales were ahead of market expectations. 

Steep discounts and government subsidies supported the sale of electric vehicles, and the advanced vehicle sales surpassed petrol car sales for the third month in a row in October. 

Electric vehicle sales increased to 1.12 million units in October, with a market share of 53.3%, according to CPCA, or China Passenger Car Association. 

BYD increased 3.4% to HK $287.20 after the company's vehicle sales soared 66% from a year ago to 502,757 units. 

The company reported a fifth consecutive monthly record sales of electric and hybrid vehicles, largely because of the subsidies to replace older petrol cars. 

Li Auto increased 1.5% to HK $98.55 after the company said electric vehicle sales dropped 1% from the previous month to 51,443 units. 

NIO decreased 0.3% to HK $5.23 after the company said sales fell 1% from the previous month to 20,976 units. 

India Movers: Bajaj Auto, Coal India, Hero Motocorp, Mahindra & Mahindra, NMDC, VST Industries, V.S.T. Tillers

Market indexes in Mumbai fell more than 1%, and the rupee held firm near its record low. 

Motorcycle and passenger car sales in October fell short of market expectations. 

The Sensex index decreased by 1.4% to 78,608.02, and the Nifty index fell by 1.5% to 23,934.30. 

On the Mumbai stock exchange, 107 stocks traded at their 52-week highs, and 27 stocks traded at their 52-week lows.

VST Tillers & Tractors decreased 0.5% to ₹4,595.95, and agriculture equipment company reported a rise in tractor and power equipment sales. 

Tractor sales in October increased to 680 units from 289 units, and power tiller sales jumped to 1,783 units from 1,220 units a year ago. 

Vehicle makers reported mixed sales in October as buyers searched for bargains in rural areas. 

TVS Motor decreased 2.5% to ₹2,445.50, Eicher Motors dropped 1.5% to ₹4,882.0, Bajaj Auto declined 4.3% to ₹9,456.30, and Hero Motocorp eased 4% to ₹4,821.05. 

Tata Motors decreased 2.4% to ₹823.35, Mahindra & Mahindra rose 1.4% to ₹2,858.05, and Hyundai Motor India fell 1% to ₹1,813.95. 

TVS Motor sales increased 4.89 lakh from 4.34 lakh units, Eicher Motors sales advanced to 1.1 lakh from 84,435 units, Tata Motors sales decreased to 82,682 from 82,954 units, Maruti Suzuki sales increased to 2.06 lakh from 1.99 lakh, and Hyundai Motors sales advanced to 78,078 from 68,700 units from a year ago, respectively. 

VST Industries dropped 3.4% to ₹336.25 after the cigarette and tobacco product company reported a sharp decline in profit. 

Revenue in the September quarter decreased to ₹469.1 crore from ₹481.5 crore, net income fell to ₹47.7 crore from ₹75.4 crore, and diluted earnings per share to ₹2.80 from ₹4.47 a year ago.  

Coal India declined 3.6% to ₹437.70 and the mining company trades ex-dividend tomorrow. 

The coal mining company said coal production in October increased 2.3% to 61.1 million tons and sales eased 0.5% to 61.7  million tons,  from a year ago, respectively. 

Sales in the seven months to October in the current fiscal year increased 1.5% to 428.5 million tons and production rose 2.5% to 403.8 million tons. 

NMDC jumped 0.4% to ₹223.64 after the iron ore mining company reported rising sales and production in October. 

Sales increased to 4.03 million tons from 3.44 million tons, and production advanced to 4.07 million tons from 3.92 million tons, a year earlier, respectively.